Daijiworld Media Network - Mumbai
Mumbai, Apr 24: The Indian rupee depreciated by 24 paise to 94.25 against the US dollar in early trade on Thursday, weighed down by sustained demand for the American currency and global market pressures.
Forex traders said the decline in the rupee was influenced by a stronger dollar overseas and concerns over global economic uncertainties, which continued to impact investor sentiment.
Market participants are closely monitoring developments in international markets, including crude oil price movements and geopolitical tensions, which are likely to influence currency trends in the near term.
However, analysts noted that supportive domestic factors and possible intervention by the Reserve Bank of India may help limit sharp volatility in the currency.